Интеграцията на европейския фондов пазар
Integration of the European Stock Market

Summary/Abstract: An attempt is made to evaluate quantitatively the stage of integration of the West European stock market and this of the last accessed the EU countries – Bulgaria and Romania. Staring point of the study is the formation of dynamic rows of chosen main market indexes of the most liquid stocks of first class emitents on these markets. Next examined are the trend models of the obtained dynamic rows. On the basis of the conducted analysis of the short-term and long-term dependence between the indexes a quantitative evaluation is made for the stage of connection of the old and new stock markets in the beginning of this century.

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